Johnson & Johnson Consumer Inc. Announces Agreement to Acquire Zarbee's, Inc., a Leader in Naturally-Based Healthcare Products

SKILLMAN, N.J., July 30, 2018 /PRNewswire/ -- Johnson & Johnson Consumer Inc. announced today that it has entered into a definitive agreement to acquire Zarbee's, Inc., a privately held company that is a leader in naturally-based healthcare products.  The acquisition will include the full line of Zarbee's Naturals™ products for children and adults.  Financial terms of the transaction were not disclosed.

Zarbee's Naturals™ was founded in 2008 by Dr. Zak Zarbock, a pediatrician who was inspired to create safe, wholesome and effective alternatives to traditional OTC medicines. His first product was a honey-based kids' cough syrup made with vitamin C and zinc and free of alcohol, drugs, and artificial flavors. Over the last decade, Zarbee's Naturals™ has grown into a broad-based health and wellness brand and has disrupted the cough, sleep, immune support and vitamin categories with its portfolio of family-friendly products. 

"Zarbee's is a values-driven company that was founded on and has achieved significant growth by meeting the evolving health needs of today's families," said Katie Devine, Global President, OTC Franchise, Johnson & Johnson Consumer Inc. "As a global OTC leader, Johnson & Johnson Consumer shares in this vision and is committed to providing innovative healthcare solutions that satisfy the preferences of consumers."

"Through Zarbee's Naturals™, we are excited to bring a more comprehensive set of products to consumers within our core need states," said Kathy Widmer, President, U.S. OTC, Johnson & Johnson Consumer Inc. "The Zarbee's team has achieved tremendous success in the marketplace and we are excited to be a part of their future growth. Upon closing of the transaction, we look forward to working closely with the Zarbee's team as they join the Johnson & Johnson Consumer family."

The closing of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.  The transaction is expected to close during the third quarter of 2018. 

About Johnson & Johnson Consumer Inc.
Johnson & Johnson Consumer Inc., based in Skillman, N.J., is one of the world's largest consumer health and personal care products company.  Our consumer companies produce many of the world's most trusted brands, among them JOHNSON'S® Baby, BAND-AID®, NEUTROGENA®, TYLENOL®, MOTRIN®, and LISTERINE®.  Each one of our consumer businesses embraces innovative science to create products that anticipate consumer needs and create experiences that help them live healthy, vibrant lives.

Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding the potential acquisition of Zarbee's, Inc. and its affiliates. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson Consumer Inc. and Johnson & Johnson. Risks and uncertainties include, but are not limited to: the satisfaction of closing conditions for the acquisition, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act; the possibility that the transaction will not be completed in the expected timeframe or at all; the potential that the expected benefits and opportunities of the acquisition, if completed, may not be realized or may take longer to realize than expected; uncertainty of commercial success for new or existing products; challenges inherent in new product research and development; economic conditions, including currency exchange and interest rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations, including global health care reforms; and changes in behaviour and spending patterns or financial distress of purchasers of health care products and services. In addition, if and when the transaction is consummated, there will be risks and uncertainties related to the ability of Johnson & Johnson Consumer Inc. to successfully integrate the products and employees of Zarbee's, Inc. and its affiliates, as well as the ability to ensure continued performance or market growth of their products. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, including in Exhibit 99 thereto, and the company's subsequent filings. Copies of these filings are available online atwww.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither Johnson & Johnson Consumer Inc. nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.

SOURCE Johnson & Johnson Consumer Inc.